Nasdaq, Inc. (Nasdaq: NDAQ) today announced that it is organizing
its business units into three divisions: Market Platforms, Capital
Access Platforms, and Anti-Financial Crime. This new structure will
align the company more closely to the foundational shifts that are
driving the evolution of the global financial system and evolving
client needs.
“The financial system is being transformed by the modernization
of markets, corporate and investor focus on long-term value
creation, and the growing importance of protecting the system’s
integrity,” said Adena Friedman, President & CEO of
Nasdaq. “The value created by our strategy over the past
five years has given us the confidence to accelerate our efforts in
our major growth areas through this new corporate structure, with
our ultimate goal to become the trusted fabric of the financial
system.”
Market Platforms
Market Platforms will include Nasdaq’s North American and
European Market Services, Market Infrastructure Technology, as well
as two new growth pillars: Digital Assets and Carbon Markets.
Today, Nasdaq is the largest market in U.S. equities and has the
number one share in Nordic equities and U.S. equity options. Nasdaq
powers more than 130 of the world’s market infrastructure
organizations in over 50 countries with end-to-end technology
solutions.
Leveraging the division’s position at the center of markets,
Market Platforms will be at the forefront of the financial system’s
evolution and will play a critical role in advancing the
modernization of markets. Innovative technologies, including cloud
and blockchain, present significant potential opportunities to
further enhance market resiliency and scalability, make markets
even more accessible to market participants, and open doors to new
asset classes.
Tal Cohen will lead the division as President
of Market Platforms. Cohen currently serves as Executive Vice
President and Head of North American Markets and is responsible for
the company’s equities, options, and surrounding systems in
Nasdaq’s U.S. and Canadian businesses.
Capital Access Platforms
Capital Access Platforms will combine Nasdaq’s Corporate
Platforms and Investment Intelligence businesses. With over 10,000
corporate clients and 5,000 clients across the investment
management ecosystem, Nasdaq is the world’s leading franchise
serving the corporate issuer and investment community.
From the position at the crossroads of the global capital
markets, Capital Access Platforms is uniquely placed to act as a
bridge between investors and corporates to help clients navigate
the increasing complexity of the evolving financial system. With
leading core businesses in index, data, and listings, Capital
Access Platforms will help clients modernize workflows, navigate
the climate and ESG landscape, and deliver even more holistic,
actionable insights and intelligence.
Nelson Griggs will lead the division as
President of Capital Access Platforms and will continue his role as
President of the Nasdaq Stock Exchange. Griggs currently serves as
Executive Vice President of Nasdaq’s Corporate Platforms business
and is responsible for listings and corporate solutions.
Anti-Financial Crime
Anti-Financial Crime will include Verafin, our fraud detection
and anti-money laundering solution, which serves over 2,200 banks
and credit unions, as well as Nasdaq’s world-leading market and
trade surveillance products serving over 200 brokerage firms,
regulators, and exchanges. This division will help protect the
integrity of the financial system and fight financial crime.
Anti-financial crime technology represents an already large and
fast-growing sector with structural and regulatory tailwinds.
Financial institutions face significant challenges in detecting and
preventing financial crime and, therefore, are investing
significant capital and resources in combatting an ever-increasing
threat to the integrity of the global financial system. Nasdaq’s
anti-financial crime division will focus on delivering a
world-class platform with holistic solutions and capabilities to
support financial institutions in fighting financial crime more
effectively across their networks and the wider financial
system.
Jamie King, Executive Vice President, will
continue to lead the Anti-Financial Crime division at Nasdaq.
Timeline
The new corporate structure will take effect by the end of the
Fourth Quarter 2022 with corresponding executive appointments
taking effect on January 1, 2023. To learn more, visit:
www.nasdaq.com/accelerate.
Nasdaq’s financial results for the Third Quarter 2022 will be
published in accordance with its current structure, which includes
existing forward-looking management outlook and other financial
guidance. Coinciding with the publication of Nasdaq’s Third Quarter
2022 results, the company also plans to provide supplemental
information detailing the financial reporting implications of the
new corporate structure. Nasdaq intends to publish its Fourth
Quarter and Full Year 2022 results, as well as all future
reporting, in alignment with the new corporate structure.
At Nasdaq’s 2022 Investor Day on November 8, 2022, the company
will reflect the new corporate structure in its planned
presentation of its strategy, its businesses, and future
opportunities. Any updates to the management outlook and other
financial guidance will include implications of the changes to the
corporate structure. Click here to register for the Nasdaq 2022
Investor Day.
Cautionary Note Regarding Forward-Looking
Statements
Information set forth in this communication contains
forward-looking statements that involve a number of risks and
uncertainties. Nasdaq cautions readers that any forward-looking
information is not a guarantee of future performance and that
actual results could differ materially from those contained in the
forward-looking information. Such forward-looking statements
include, but are not limited to, statements about the Company’s new
corporate structure, growth strategy and expectations, financial
guidance and executive changes. Forward-looking statements involve
a number of risks, uncertainties or other factors beyond Nasdaq’s
control. These factors include, but are not limited to, Nasdaq’s
ability to implement its strategic initiatives, economic, political
and market conditions and fluctuations, geopolitical instability
arising from the Russian invasion of Ukraine, government and
industry regulation, interest rate risk, U.S. and global
competition, the impact of the COVID-19 pandemic on our business,
operations, results of operations, financial condition, workforce
or the operations or decisions of our customers, suppliers or
business partners, and other factors detailed in Nasdaq’s filings
with the U.S. Securities and Exchange Commission, including its
annual reports on Form 10-K and quarterly reports on Form 10-Q
which are available on Nasdaq’s investor relations website at
ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology
company serving the capital markets and other industries. Our
diverse offering of data, analytics, software, and services enables
clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions
and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq,
or at www.nasdaq.com.
Nasdaq Media Contacts:
Marleen Geerlof(347)
380-3520marleen.geerlof@nasdaq.com
Will Briganti (646)
964-8169william.briganti@nasdaq.com
Nasdaq Investor Contact:
Ed Ditmire, CFA(212)
401-8737ed.ditmire@nasdaq.com
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